Market Trends of GCC Microwave Oven Industry
This section covers the major market trends shaping the GCC Microwave Oven Market according to our research experts:
United Arab Emirates is the Largest Market for Microwave Oven in GCC
Customers' rising standard of living, an increasing number of nuclear families, and surging demand for frozen and ready-to-eat food are some key factors driving the market growth. The robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to drive the demand for commercial appliances over the forecast period. Economic factors, such as the rising population, increasing disposable income of consumers, and growing awareness about different cooking appliances, such as microwave ovens, grills, and barbeques, are projected to impact the market positively. The convection segment of the market is poised to account for half of the overall market. The demand for a microwave oven may gain strong support from the rising consumer spending on kitchen appliances. The adoption of kitchen and home appliances is forecast to witness robust growth, owing to the increasing rate of urbanization.
Commercial Application is Dominating the Market
In the case of the residential application segment, the most significant driver is people's changing lifestyles and food consumption preferences, with more consumers shifting toward ready-to-eat and frozen food products. Many new households comprise working singles who prefer dining out rather than setting up their kitchens. This may be a drawback for the residential segment of the market. However, this trend is estimated to boost the culture of quick-service restaurants, cafes, and small eateries, which is expected to work in favor of the market.
